Oil company earns 71 percent of projected share revenues

Iran Materials 18 January 2012 17:43 (UTC +04:00)

Azerbaijan, Baku, Jan. 18/ Trend M. Moezzi /

Iran's North Drilling Company (NDCO) projected that each of its shares would earn 359 rials (about 32 cents) after taxes by the end of this year (Iran's solar year ends in March). The information as of the first nine months of the Iranian year shows that the NDCO has been able to earn 256 rials (about 22 cents), 71 percent of projections, for each share.

The company earned 352 rials (about 31 cents) per share in 2010-2011.

The NDCO plans to propose distributing 40 percent of this financial year among shareholders. The proposal will be made at the shareholders' general meeting.

The Iranian Central Bank set an exchange rate of 11,288 rials to $1 today.